By Dominic Chopping
Danish pharmaceutical group Genmab A/S (GEN.KO) Friday announced
a commercial license deal with insulin maker Novo Nordisk A/S
(NVO).
The deal sees Novo Nordisk make an upfront payment of $2 million
to use Genmab's DuoBody technology platform, which is used to
create and develop antibodies. These antibodies are usually
developed for use in very specific and targeted cancer treatments,
but this deal will see the platform used to develop antibodies that
target a disease area outside of cancer therapeutics, the company
said.
After an initial period of exclusivity, Novo Nordisk has an
option to maintain exclusivity or take the licenses forward on a
non-exclusive basis.
Genmab is entitled to potential development, regulatory and
sales milestones of up to around $250 million for each exclusive
license, or approximately $200 million for each non-exclusive
license. In addition, Genmab will be entitled to single-digit
royalties on sales of any commercialized products.
This agreement is not expected to have a material impact on
Genmab's 2015 financial guidance.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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